# In the matter of Mukesh Udyog Limited

> NCLT judgment dated 2024-10-23. Citation: TCN-2024-NCLT-00367. The case involves multiple applications (IA(I.B.C)/1962(CH)2024, IA(I.B.C)/2105CH)2024,…

- **Court:** NCLT
- **Order date:** 23 Oct 2024
- **Citation:** TCN-2024-NCLT-00367
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mukesh-udyog-limited-7f5c12b0

## Summary

### Background

The case involves multiple applications (IA(I.B.C)/1962(CH)2024, IA(I.B.C)/2105CH)2024, IA(I.B.C)/2108(CH)2024, IA(I.B.C)/2344(CH)2024) filed in connection with CP (IB) No. 131/Chd/Pb/2022, an insolvency case between State Bank of India (Financial Creditor) and Mukesh Udyog Limited (Corporate Debtor). The applications pertain to progress reports and the replacement of the Interim Resolution Professional (IRP).

## Facts

State Bank of India initiated corporate insolvency resolution process against Mukesh Udyog Limited. Several applications were filed, including IA(I.B.C)/1962(CH)2024, IA(I.B.C)/2105CH)2024, IA(I.B.C)/2108(CH)2024, and IA(I.B.C)/2344(CH)2024. IA(I.B.C)/2105(CH)2024 and IA(I.B.C)/2108(CH)2024 relate to the filing of the 6th and 5th fortnightly progress reports, respectively. IA(I.B.C)/2344(CH)2024 was filed by the CoC under Section 22(3)(b) of the IBC, 2016, seeking the appointment of Sandeep Kumar Chitkara as the Resolution Professional (RP) in place of the existing Interim Resolution Professional (IRP), Ashish Agarwal. Sandeep Kumar Chitkara's written consent and AFA were annexed. There were no disciplinary proceedings pending against the proposed RP. The 6th CoC

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## Issues and analysis

### Issue 1: Whether the fortnightly progress …

**Ratio:** Rule 11 of the NCLT, 2016 allows

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**Reasoning:** The court found no reason to reject the progress reports and took them on record subject

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**Interpretation:** Rule 11 provides the procedural framework for submitting documents to the

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**Application:** The court applied Rule 11 to accept the 5th and 6th fortnightly progress

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## Parties

- **Judges:** SHRI. UMESH KUMAR…; SHRI. HARNAM…
- **Appellants:** State Bank of…
- **Respondents:** Mukesh Udyog…
- **Advocates:** Shubham…; Aalok J…; +2 more

## Timeline

- **2024-10-21 — Affidavit of Service…**: Affidavit of service…
- **2024-08-20 — Period Start for 6th…**: Start date for the 6th…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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